RBS reports first annual profit in ten years following 'difficult chapter'

Profit of £752m

The Royal Bank of Scotland (RBS) has reported a "bottom-line" profit for the first time in a decade amid resolving a number of legacy issues which has plagued the bank since the Global Financial Crisis (GFC).

The bank saw profits of £752m for 2017 compared to a loss of £7bn the year previously as a result of a reduction in risk across the business and an increase in efficiency. The firm reduced its risk-weighted assets by £228bn in 2017. Furthermore, RBS posted an operating profit of £2.2bn last year, compared to a loss of £41.bn in 2016. However, its total assets under management (AUM) fell by £61bn to £738bn in 2017. Ross McEwan, CEO of RBS, said: "We have achieved profitability through delivering on the strategic plan that was set out in 2014. The first part of this plan was focused on ...